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What would you do with $50 million?
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Wednesday, 28 July 2010

By CHRIS FORTIER
Staff Writer

The Ontario Lottery and Gaming Corporation (OLG) used to have a slogan of ‘Just imagine.'

And with the last five weeks of the Lotto Max jackpot being in excess of $30 million, three of them being $50 million, you can start to imagine some of the things you can purchase with that sort of money.

The Lotto Max jackpot once again stands at $50 million Photo Credit: Chris Fortier
The Lotto Max jackpot once again stands at $50 million Photo Credit: Chris Fortier
Talking to students and staff at the college, one thing is clear. Not everyone has something special in mind with the money in the event that the jackpot became his or hers.

In the 25 students interviewed, few students knew what the first thing they would do with $50 million.

Those who did had some good ideas to spend their possible wealth.

"The first thing I would buy would probably be a mansion," says Dan Collette, 26, a student in the welding program.

Real estate is a common theme among purchases with around 50 per cent of the answers involving some sort of purchase of a home.

"I would buy some real estate, then give money to my relatives and family," says Soomin Hong, 30, a student in the English as a Second Language (ESL) program.

According to the OLG website, 36 per cent of winners of $1 million or more purchase a home.

"I think the first thing I would buy is a house," says Jose Molina, 41, of the Mechanical Engineering Technology program.

Other students are keen on using some of their winnings to travel.

"Travel all over the world by ship with my family and friends," says Makiko Kageura, 38, of the ESL program.

Next to real estate, travel is the second most commonly given response.

"A ticket for a world tour and a Lamborghini," says Satbir Singh, 23, of general arts and sciences.

Among the students asked, there were a number of different responses; many of them involved sharing the money with family and friends.

In addition to helping people out. Some, like graduate of the paramedic program, Brendan Davis, 28, are more concerned with what they owe.

"I'd pay off my student debt," says Davis.

 

Last Updated ( Wednesday, 28 July 2010 )
 
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